HCL Tech tumbles 4.5% as analysts cut price targets after Q1 results

HCL Technologies shares dropped 4.5 percent after foreign brokerages including HSBC, CLSA, Morgan Stanley, BNP Paribas, Jefferies, JP Morgan and Citi trimmed their price targets following the company's Q1 results. Despite the cuts, 18 analysts maintain a Buy call on the stock, with a consensus 12-month target price of around Rs 1,280, implying about 9.7 percent upside from current levels.